Social Currency is growing at an amazing rate for the restaurant industry. Even though the industry may be showing some sales sluggishness, we are seeing marked improvement of consumers that are eating out more often and sharing those experiences with their friends on social media.
As we track location and mobile social interactions for 2013, over 70% of the Top 100 brands in our proprietary Restaurant Social Media Index (RSMI) are showing an increase in consumer activity at the store level. What makes this number so astounding is that when you review the potential location-based actions and mobile traffic, you find a 23% growth in frequency from this time last year! I have written about market share in the past few columns, but with these recent numbers in from 2013, social currency is the new measurement that brands should be building for their business. Read More